Final answer:
The best term to describe the process of doing the same analysis every month as new data comes in is a workflow. A workflow refers to a process with a consistent path each cycle, ensuring efficiency and repeatability.
Step-by-step explanation:
If your company needs to do the same analysis as new data comes in every month, the best term to describe that process would be a workflow. A workflow is a process in which the system follows the same path for every cycle, meaning that the steps are predefined and repeated in a consistent manner each time the process is executed. This is in contrast to a process in which the system would follow a different path for every cycle, which would be less structured and standardized.
In a business context, creating a workflow for monthly data analysis ensures that all necessary steps are followed in the same order and manner, which facilitates efficiency, accuracy, and the ability to replicate results. Workflows often make use of automation tools to streamline repetitive tasks, making them more efficient and reducing the likelihood of human error.